Monday, November 16, 2009

What is the safest way to travel with lots of cash on airplanes?

Am relocating and will need to set up a bank account upon arrival. I need the funds available immediately, so I figured (correct me if I'm wrong) carrying cash to open the account would be the best way to go. Since I don't know much about traveling on airplanes, maybe you all could advise me on whether to hide the cash in my luggage, elsewhere or carry it taped to my body ( :

What is the safest way to travel with lots of cash on airplanes?
Go to a travel store and invest in a money belt or a security pouch. Keep it tied to your waist all times. If they make you take it off at the x-ray machine, make sure you keep your eye on it and grab it as soon as it comes out of the machine.


Do not check it in with your luggage.





Instead of carrying cash, I would go to a local bank and exchange the cash for a cashier's check. These are recognized as guaranteed funds by all banks (as good as cash but safer). However, amounts above $5000 are subject to deposit holds and some of the more paranoid banks may not issue you cash from a cashier's check until it clears.


Contact the bank at your destination and find out what their policy is.
Reply:Don't. Carry an unsigned check (or two or three, just to be sure) and cash it when you get there. make sure you don't sign it until you need to cash it so it cannot be stolen.


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